LIC Partners with Saraswat Cooperative Bank to Increase the life Insurance

Category : Business and economics Published on: September 01 2023

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Life Insurance Corporation of India has tied up with Saraswat Cooperative Bank Ltd in its effort to increase the penetration of life insurance through the Bancassurance channel in Mumbai.
Saraswat Cooperative Bank is India’s largest Urban Cooperative Bank.
Citizens in general and customers of Saraswat Bank, in particular, will now have the opportunity to fulfill their life insurance protection needs through the Bank itself by purchasing insurance products.
The Bank has a vast network of 294 Branches as at 31 March 2023 spread over 6 states and is catering to over 2 million customers. It has also got the distinction of being India’s largest Urban Cooperative Bank.
Being the premier insurer of the country, LIC has plans for all segments of the society under its product basket of Annuity, ULIP, Term Insurance and Savings category.
Recently LIC has launched a close-ended Guaranteed Benefit plan “Dhan Vriddhi” which is available till 30th September 2023 only, to persons of all age ranging from 90 days to 60 years.